Financial Services Licence Applications: Legal Advisory

A Financial Services Licence in the Gelephu Mindfulness City is won or lost on how well the application is scoped, evidenced and sequenced against the regulator's own steps, long before anyone reads the business plan. The Gelephu Financial Services Office (GFSO) is the independent regulator of all financial services and virtual asset activities in the Gelephu Mindfulness City Special Administrative Region (GMC).

Map your business model to the Regulated Activities and identify available exclusions.

Advise on the initial GFSO meeting and the business model presentation.

Draft the regulatory business plan and the compliance, AML and systems-and-controls documentation GFSO tests.

Advise on the prescribed application form, the controller information and the Approved Person applications for each Controlled Function.

Advise on the design of the governance structure so that the mandatory appointments are filled and the residency requirements are met.

Advise on the legal requirements for the GMC applicant entity, including head office and registered office in GMC.

Asset managers, fund managers and advisers establishing a regulated GMC presence. Brokers, dealers and trading venues, including virtual asset businesses. Banks, payment firms and insurers assessing GMC as a licensed base. Existing licensees elsewhere seeking a second, USD-denominated regulated entity.